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GoMarkets Discussion

  • #221
  • Apr 1, 2010 10:10am Apr 1, 2010 10:10am
Do the demo accounts also lag? I haven't noticed it but I would like to know before I fund my account (not that it should matter on 4H charts).
  • #222
  • Apr 1, 2010 2:26pm Apr 1, 2010 2:26pm
Quoting PipStar
You would not know what it's all about because you trade the 4hr and daily timeframe as you say yourself. So a few seconds delay in execution does not matter to you.

But when you trade the lower timeframes where you enter and exit trades quickly then delayed execution by a few seconds matter and it's a problem. It's not too hard to guess what all the fuss is about. It's about some traders not getting the quick execution that they need for their trading style.
I figured that this would be the case but I had not read any comments where people mentiond the timeframes they were trading (I could have missed it if it was mentioned before).

I posted my comment because it seems that there are a lot of people complaining about the broker, but from the sounds of it the traders' methods are half the problem with the small timeframes etc. those trading off higher timeframes should have no problem. I'm not pinning the blame on the traders who have made comments, I'm just bringing to light the fact that if people are reading this thread for honest review of forex brokers then they should take into consideration their own trading style when choosing which broker would be appropriate.

It seems that for scalpers of 1min and 5min charts that GoMarkets aren't an ideal fit at the moment, though for day traders looking at 15mins+ then there shouldnt be too many issues from my experience.
  • #223
  • Apr 4, 2010 4:37am Apr 4, 2010 4:37am
So for those tick by tick scalper, have they found 1 broker that do speedy execution at their will and make money and staying for at least 6 months?
  • #224
  • Apr 6, 2010 9:32am Apr 6, 2010 9:32am
Quoting Trad3r
Spreads of 150 pips???!!!! What a thieves!
this time i've got some solid evidences
http://www.forexfactory.com/showthread.php?t=229955
  • #225
  • Apr 6, 2010 3:25pm Apr 6, 2010 3:25pm
Hello Gomarkets,

I am a client of yours and I am wondering if your company would record
real tick data from your company and then make it available to your customers so they can backtest ea's? The data that we currently have to use is not real data when we try to backtest so if you can make real tick data available to your clients you would be getting more clients as a result of that because they would know the results from testing with real tick data. Dukascopy currently does it for their customers. Alapri-Uk used to do.

Regards,
Jeff

[quote=GoMarkets;3585630]
  • #226
  • Apr 7, 2010 12:28am Apr 7, 2010 12:28am
Quoting Coen
Do the demo accounts also lag? I haven't noticed it but I would like to know before I fund my account (not that it should matter on 4H charts).
Demo accounts don't delay. Instant executions...


It's the live accounts that do.
  • #227
  • Apr 8, 2010 9:16am Apr 8, 2010 9:16am
Time to close my account with them!

TODAY, worst fills ever ... CRAPER than the usual bullsh*t fills they have ...

I dont understand how people dont see this? I've read in some forums and reviews that people have been complaining about spreads being manipulated, with screenshot evidence. I'm scared to actually keep my funds with them now! I mean who knows, this CRAP fills issue could be a manipulated thing?

And dont even $#@$@%# say that is my internet conenction...

PISSED THE $#%#$ OFF today!! Their orders keep getting worse.. Well bye bye!

Ciao!
  • #228
  • Apr 8, 2010 9:50am Apr 8, 2010 9:50am
Quoting fx.ranger
Time to close my account with them!
Most of us have already moved on to another broker. Don't waste any more time with them. It's not worth it.

Some of the good reviews on here about them are just not credible.
  • #229
  • Edited 10:16am Apr 8, 2010 10:14am | Edited 10:16am
Quoting robshan
I figured that this would be the case but I had not read any comments where people mentiond the timeframes they were trading (I could have missed it if it was mentioned before).

I posted my comment because it seems that there are a lot of people complaining about the broker, but from the sounds of it the traders' methods are half the problem with the small timeframes etc....
err, what?

essentially you are trying to say that because we might have clicked on the m1 button instead of the h4 button that this is the reason why our mt4 platforms confirm and execute orders anywhere from instantly to up to and over a minute? and not just market orders... limit orders and order modifications... trailing stops lagging etc etc

let me put a nice big blue ribbon around that entire argument and place a big sticker on it saying "NO"!

what does it matter if i'm on the m1 and trading my account to infinity or oblivion... nothing about any of it has cause and effect to the facts that execution of orders randomly lag like crazy. and i assure you that clicking any of the other timeframe buttons does not 'fix' the BROKER issue.

i hope you see the difference and the point being made.

so, for aussies who recommends what broker nowadays :/ ?
Congratulations ScalaFX for coming out of the closet!
  • #230
  • Apr 8, 2010 2:49pm Apr 8, 2010 2:49pm
Quoting PipStar
Most of us have already moved on to another broker. Don't waste any more time with them. It's not worth it.

Some of the good reviews on here about them are just not credible.

PipStar and all, I would like to thank your posts here since I have just opened a Live account with GoMarkets, I wanted to get a few second opinions. I've got plenty now.

PipStar, having read this thread from the start (and you've contributed to posting quite a few yourself), I feel your presence and sense your vibes as one being level-headed, which is why I am responding to you here on my first FF post.

I have a few questions to ask you, if you would indulge:

1. Have you decidedly closed your account with GoMarkets?

2. I have not read any of your posts here indicating that you had directly called them (as Chris from GoMarkets seemingly almost "begged" to be contacted to be given the chance to respond to individual issues with their trading accounts). Have you actually done that?

3. If so, did they treat you fairly or respectfully (other than not addressing "slow execution" for you yet)?

I cannot say anything now since I have not deposited money into my new account there. I reckon it will be soon, unless I found something a broker that sits more "well" with me that allows me to open an account in NZD. For now, I don't want to fool around with exchange rates in depositing and withdrawing in excess of 100k, which is my preferred balance to trade with.

After having read quite a number of negative posts on FF and some on ASF regarding GoMarkets' possible "trade manipulation", I was tempted to move on to look for other brokers. At the end, I have spent a lot of time already and all brokers must have their issues with their clients.

I will put my money to the test and see for myself and hopefully will be able to come back here to tell about it, not only to you PipStar but to every concerned poster and reader here.

At the end of the day, life is full of incidents that seemingly could be interpreted one way or millions others, I hope to be dealing with someone (in this case GoMarkets' personnel) with the highest levels of integrity in what they do for their clients.

Thanks for reading my first post here. I hope to learn and share lots with genuine and earnest people here.


Cheershttp://cdn.forexfactory.com/images/icons/icon7.gif
  • #231
  • Apr 9, 2010 1:12am Apr 9, 2010 1:12am
Quoting Kbg
PipStar
I have a few questions to ask you, if you would indulge:
Hi Kbg, hope this will be of some help:

1. Have you decidedly closed your account with GoMarkets?

Yes, I have withdrawn all my funds from Go Markets and closed my account. It's a long story really. You are one year too late in trying to trade with this broker. They used to be good when they had subsecond execution but all this changed some months ago. They introduced a currenex price feed and it is a real killer with extremely wide spreads at volatile times. Why would you trade with a dealing desk broker (STP is actually routing trades to a dealing desk) on a currenex price feed? Even if you dont trade during volatile times if you have a trade open when they widen spreads it will hit your stop loss sometimes with 50 pips wide.

2. I have not read any of your posts here indicating that you had directly called them (as Chris from GoMarkets seemingly almost "begged" to be contacted to be given the chance to respond to individual issues with their trading accounts). Have you actually done that?

I have spoken to them several times on different issues. It makes no difference. They have a good audience to talk to when they are addressing the newbies but I am just too experienced to fall for all the spin. They are not going to fix what they have done on purpose. They are just paying lip service and making as if they are trying to fix it but they aren't. If you understand the forex OTC market, the broker is on the other side of your trade so if you win the broker loses and when you lose the broker wins. Whatever action the broker takes it is for them to make money not for you or me to make profits. For example this currenex price feed at Go Markets and their delayed execution is to ensure that they increase their own edge over us traders. Or make it even less likely that you will make any money.

3. If so, did they treat you fairly or respectfully (other than not addressing "slow execution" for you yet)?

I never had any problem with their customer service. But I am not in this just to be treated nicely. I'm in it for the money. And if the broker makes it too hard for me to make money or start playing games, I move on.

4. For now, I don't want to fool around with exchange rates in depositing and withdrawing in excess of 100k, which is my preferred balance to trade with.

Why would anyone start trading with 100K? You are about to make a big mistake. You appear to be new to trading and you should start with say, 5k. Unless you have a proven winning strategy you should start small and build up from there. You can win a lot of money in forex but you can also lose huge sums so keep that in mind.

Cheers
  • #232
  • Apr 9, 2010 1:27am Apr 9, 2010 1:27am
Quoting PipStar
Hi Kbg, hope this will be of some help:

1. Have you decidedly closed your account with GoMarkets?

Yes, I have withdrawn all my funds from Go Markets and closed my account. It's a long story really. You are one year too late in trying to trade with this broker. They used to be good when they had subsecond execution but all this changed some months ago. They introduced a currenex price feed and it is a real killer with extremely wide spreads at volatile times. Why would you trade with a dealing desk broker (STP is actually routing trades...
thanks for your information pipstar,if i may check with u which broker r u using currently?
  • #233
  • Apr 9, 2010 3:14am Apr 9, 2010 3:14am
Quoting nubcake
..... let me put a nice big blue ribbon around that entire argument and place a big sticker on it saying "NO"! .....
lol ... I'm speaking from my own experience dude, so dont tell me that my point of view is wrong ....

I trade live with GoMarkets and dont trade on any charts lower than 4hr candles. I personally have no problem with my feed, spreads or execution time for market orders.

I have noticed delay when creating and modifying pending orders but because I trade off higher timeframes, the delayed execution is not a problem as I set the orders well in advance of when the price will reach them.

From the sounds of it, some people have issues with their feeds, orders, spreads etc. for one reason or another. I was just putting forward the fact that I have no issues trading at a higher timeframe ... if that experience is different to yours then that's just the way it is and I sympathise with your situation.
  • #234
  • Apr 9, 2010 8:27am Apr 9, 2010 8:27am
Quoting PipStar
Hi Kbg,
have a trade open when they widen spreads it will hit your stop loss sometimes with 50 pips wide.
Hi Pipstar

Which pair was that having 50 pips wide and which date?
Now I am demoing using GoM. I do not wish to be swallowed by any broker thou!

Would you recommend some decent brokers? Or maybe one using by yourself?

What time frame do you usually trade off? The pairs?

Thanks for your time.
  • #235
  • Apr 9, 2010 8:54am Apr 9, 2010 8:54am
I received an email from IBFX that they will be opening an office in Australia soon.

Perhaps it might be worth your while to wait for them ( if you think they are OK of course).
  • #236
  • Apr 9, 2010 9:19am Apr 9, 2010 9:19am
Quoting fxking
thanks for your information pipstar,if i may check with u which broker r u using currently?
FXDD, InterbankFX and MB Trading to name a few.
And I have used others like FXCM, Forex.Com, FXSol, Oanda again just to name a few more. If I listed them all it would be like a list of Who's who
  • #237
  • Apr 9, 2010 9:23am Apr 9, 2010 9:23am
Quoting snake
Hi Pipstar
Which pair was that having 50 pips wide and which date?
Now I am demoing using GoM. I do not wish to be swallowed by any broker thou!
Would you recommend some decent brokers? Or maybe one using by yourself?
What time frame do you usually trade off? The pairs?
Thanks for your time.
I think the pair was EUR/JPY and I can't remember the exact date. It's happened to other pairs and it is documented by others on this thread I think. Go Market uses a currenex feed and we all know currenex has wide spreads at volatile times. I cant recommend any broker and I have stated some of those I use above. I trade the lower timeframes so execution is important to me.
  • #238
  • Apr 9, 2010 9:34am Apr 9, 2010 9:34am
Quoting robshan
lol ... I'm speaking from my own experience dude, so dont tell me that my point of view is wrong ....

I trade live with GoMarkets and dont trade on any charts lower than 4hr candles....
that's all fine and good but i stand by my previous post entirely. the point is that it doesn't matter whether we are profitable or not or trade on a micro-second or decade chart... the fact remains that the execution of any type of order with GO is a dog. it just matters little to you because you are trading your ratio's over larger pips and slower timeframes so it's all relative and in your case very minimal.

you have admitted yourself that their execution is lag'd. that's the start, middle, and end of the entire point being discussed by most here. so, you actually get included in our little posse of customers who see a big problem with go, it's just less of an immediate 'problem' for you. it's still wrong plain and simple that this happens.

funny how when they used to be instant execution their crap was tight, then they started doing lots of requotes (this is clearly where everything went south), and then they change to market execution so now if you get lag'd out forever you have no safety-net of not accepting the requote and just get what you are damn-well given when the order is finally executed.

quite simply, if they were still on instant-execution i reckon about 90% of their current volume of executed trades would suddenly vanish because no one would accept the horrible re-quoted prices due to the lag. no wonder they flicked it to market execution 'to help us', lolz.

lame.

i still think maybe there is a kink in the internet somewhere outside of go's immediate control which is shafting us all. maybe i'm being too positive and they are simply being dirty. feels a lot like a bait and switch and they are now just capitalizing on our good faith or laziness in changing brokers.
Congratulations ScalaFX for coming out of the closet!
  • #239
  • Apr 10, 2010 2:10am Apr 10, 2010 2:10am
Quoting PipStar
Hi Kbg, hope this will be of some help:

.......Why would anyone start trading with 100K? You are about to make a big mistake. You appear to be new to trading and you should start with say, 5k. Unless you have a proven winning strategy you should start small and build up from there. You can win a lot of money in forex but you can also lose huge sums so keep that in mind.

Cheers
Hi PipStar, thank you for your response. I have traded for many years the traditional ways quite successfully and played with online trading games for a few years now. Thanks for your advice about starting small. I am comfortable with trading larger figures. I think I understand some risk management, which has worked for me so far in the last two decades.

I have found a few more brokers that fit more of my criteria to work with. I have shortlisted MRC, FxPro and Exness. Any comments on those? I am still open to suggestion and recommendations.

Would you mind contacting me by email? I like to get acquainted with you and perhaps you may share your trading experience.

Cheers.http://cdn.forexfactory.com/images/icons/icon14.gif
  • #240
  • Apr 10, 2010 11:27am Apr 10, 2010 11:27am
Quoting Kbg
I have found a few more brokers that fit more of my criteria to work with. I have shortlisted MRC, FxPro and Exness. Any comments on those? I am still open to suggestion and recommendations.
I don't know who are MRC but I would not deposit that kind of money with any of the brokers stated above, you would be taking a big risk. There are many big and well regulated brokers both in the U.S and in the UK. This is where you should be looking. Like one of the brokers I mentioned in my previous post above.
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